Anthony Speciale Stock Market Analyst

Better Way to


Should We Anticipate a Market Bounce?

During periods like this when the markets are broadly selling off, the timeless question is always, “Are we due for a bounce?”

During periods like this when the markets are broadly selling off, the timeless question is always, “Are we due for a bounce?”

Luckily, there are key areas that will likely aid us in knowing where support lies.

However, you must understand that there are multiple timeframes that always need to be taken into consideration when analyzing the market.

Dial In Your Charts

I typically start with a monthly chart and try to create a structure or two before dialing in my time frame to a weekly chart in order to create a tighter analysis.

When I draw my largest time frame structures, particularly my monthly analysis, I do so by color-coding them.

That way, I can quickly know what timeframe I’ve built the structures on when I look at my chart.

Now, I noticed something at the settlement of last week that was interesting…

Testing Key Support

All the indexes had tested long-term support built off of a monthly time frame.

Let me show you…

Weekly Chart of Dow Jones Industrial Average (YM1!) — Source: TradingView
Weekly Chart of Nasdaq 100 (NQ1!) — Source: TradingView
Weekly Chart of S&P 500 (ES1!) — Source: TradingView
Weekly Chart of Russell 2000 (RTY1!) — Source: TradingView

As you can see in the charts above, the Dow Jones Industrial Average, Nasdaq 100 , S&P 500 and Russell 2000 have simultaneously tested long-term monthly support, as indicated by the circles drawn on each chart.

My expectation is that some buying and/or short covering is going to transpire at this point in time.

How long will that last? Is this a trend changing event?

Answers to those questions are still unknown and have yet to be seen. But in the coming week, we will certainly find out.

At that time, we’ll know if this market is turning up or continuing lower on us.

From what I see, we are at the very least due for an upside correction to our defined downtrend…

Join Us for a Special Session

Now, my colleague and expert stock trader Ross Givens has been saying something similar inside his Alpha Stocks trading service.

Sure, he has plenty of long ideas for the right stocks. But he’s also not afraid to go short when the market calls for that.

Right now, he’s anticipating a bounce that he can sell short into. And not only does he short stocks… He also provides option alternatives if that’s more of your style.

Then, Ross gets together with subscribers every Monday for an hour-long live session so that subscribers can ask questions and get guidance about the trades.

If you’re ready to see what you could be missing out on, click here to register for a very special Alpha Stocks presentation today at noon!

Rules to Live By

“Go with what your heart tells you, or you will lose all.” Rick Riordan

Until next time, I wish you a beautiful and blessed day!

Yours In Trading Success,

Anthony Speciale Jr.

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